Spain to End Golden Visa Program: What You Need to Know
The Spanish government has announced a major shift in its immigration policy by deciding to phase out the Golden Visa program. Since its launch in 2013, this program has allowed non-EU citizens to obtain Spanish residency through investments and to invest in real estate in Spain with a value exceeding €500.000 euro. This amount can also be divided between multiple properties. Over the years, it has attracted substantial foreign capital, making Spain a prime destination for investors.
Now, this era is coming to an end. On November 14, 2024, the Spanish Congress approved the repeal of Articles 63 to 67 of Law 14/2013, officially dismantling the Golden Visa scheme. The decision was published in the Spanish Official Gazette (BOE) on January 3, 2025, and will take full effect on April 2, 2025.
Why Does This Matter?
The Golden Visa has been a key driver of foreign investment, particularly in Spain’s real estate sector. By offering residency in exchange for significant economic contributions, it helped boost banking, investment funds, and entrepreneurial projects.
With the program’s termination, Spain is shifting its approach to attracting international investors. This move raises questions about future investment opportunities and alternative residency options for non-EU citizens.
Last Chance: Apply Before April 2, 2025
Although the Golden Visa is being discontinued, applications can still be submitted under the current rules until April 2, 2025. If you’re considering applying, this is your final opportunity to secure Spanish residency through investment.
Investors can still apply under various categories, including:
- Real estate purchases
- Investments in financial assets
- Business ventures
After the deadline, these pathways will no longer be available.
Can Current Golden Visa Holders Renew Their Residency?
Yes, but only under certain conditions.
- Real estate investors: You can continue renewing your residency under the same conditions as before.
- Investors in financial assets, company shares, or businesses: Unfortunately, you will not be able to renew your residency under the new law.
If you obtained residency through non-real estate investments, now is the time to consult an immigration expert to explore alternative renewal options. Please contact us to recommend you one of our local immigration lawyers.
We will keep you updated if there are any changes to the policy.
What’s Next for Foreign Investors?
With the Golden Visa ending, Spain’s immigration and investment landscape is shifting. While the program has been a major draw for international investors, the government may introduce new policies to encourage foreign capital.
For now, those interested in securing Spanish residency through investment should act quickly before the April 2, 2025 deadline.
Need Help Navigating These Changes?
If you’re considering applying for a Golden Visa or need clarity on your options, professional guidance is crucial. Our team is here to provide expert support and help you make informed decisions during this transition.
For a detailed overview of the Golden Visa program, including its benefits and application process, check out our previous post.
Time is running out—contact us today to explore your options before it’s too late.
